Spirit of America Management Corp NY Boosts Stake in Viper Energy Partners LP (VNOM)

Spirit of America Management Corp NY boosted its position in shares of Viper Energy Partners LP (NASDAQ:VNOM) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 409,746 shares of the oil and gas producer’s stock after purchasing an additional 26,157 shares during the period. Viper Energy Partners comprises 2.0% of Spirit of America Management Corp NY’s holdings, making the stock its 15th biggest holding. Spirit of America Management Corp NY owned approximately 0.33% of Viper Energy Partners worth $13,587,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. HITE Hedge Asset Management LLC grew its holdings in Viper Energy Partners by 221.4% during the 4th quarter. HITE Hedge Asset Management LLC now owns 1,735,295 shares of the oil and gas producer’s stock valued at $45,187,000 after purchasing an additional 1,195,378 shares during the last quarter. CI Investments Inc. purchased a new stake in Viper Energy Partners in the 4th quarter valued at about $37,850,000. Raymond James & Associates boosted its position in Viper Energy Partners by 2.1% in the 4th quarter. Raymond James & Associates now owns 1,445,457 shares of the oil and gas producer’s stock valued at $37,640,000 after buying an additional 29,686 shares during the period. Eagle Asset Management Inc. boosted its position in Viper Energy Partners by 22.9% in the 4th quarter. Eagle Asset Management Inc. now owns 1,438,748 shares of the oil and gas producer’s stock valued at $37,464,000 after buying an additional 268,209 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Viper Energy Partners by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,064,741 shares of the oil and gas producer’s stock valued at $44,825,000 after buying an additional 167,826 shares during the period. Institutional investors own 32.25% of the company’s stock.

In other news, President Hof Matthew Kaes Van’t sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $33.51, for a total value of $77,073.00. Following the completion of the sale, the president now owns 44,624 shares of the company’s stock, valued at approximately $1,495,350.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Shares of VNOM traded down $0.29 during mid-day trading on Wednesday, hitting $33.44. The company’s stock had a trading volume of 40,492 shares, compared to its average volume of 412,273. Viper Energy Partners LP has a 52-week low of $22.76 and a 52-week high of $44.00. The stock has a market capitalization of $4.17 billion, a PE ratio of 30.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.84 and a current ratio of 10.84.

Viper Energy Partners (NASDAQ:VNOM) last announced its quarterly earnings results on Tuesday, February 5th. The oil and gas producer reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.17). Viper Energy Partners had a return on equity of 6.74% and a net margin of 49.62%. The business had revenue of $73.67 million during the quarter, compared to analysts’ expectations of $81.53 million. During the same period in the previous year, the company posted $0.37 EPS. Equities research analysts forecast that Viper Energy Partners LP will post 0.32 EPS for the current year.

VNOM has been the subject of several research reports. TD Securities boosted their price objective on shares of Viper Energy Partners from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, February 28th. BidaskClub cut shares of Viper Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Zacks Investment Research cut shares of Viper Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 26th. ValuEngine raised shares of Viper Energy Partners from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 7th. Finally, SunTrust Banks boosted their price objective on shares of Viper Energy Partners to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 7th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.58.

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Viper Energy Partners Company Profile

Viper Energy Partners LP owns, acquires, and exploits oil and natural gas properties in North America. As of December 31, 2018, it had mineral interests in 14,841 net royalty acres in the Permian Basin and Eagle Ford Shale with estimated proved oil and natural gas reserves of 63,136 thousand barrels of crude oil equivalent.

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Institutional Ownership by Quarter for Viper Energy Partners (NASDAQ:VNOM)

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